Finance

EBRD provides rescue financing to Travelata and other Russian portfolio companies

April 10, 2020

The European Bank of Reconstruction and Development (EBRD) has provided finances to a Russian company for the first time in more than five years under its emergency coronavirus support fund. The EBRD stopped making active investments in the country in 2014, following Western sanctions stemming from the events in Ukraine and Crimea. The group has also wound …

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Mail.Ru and Sberbank to acquire food delivery service Samokat

April 7, 2020

Last week, just days after Elementaree.ru secured a $5 million round of funding, Mail.ru Group and Sberbank announced plans to acquire another Russian food delivery startup called Samokat. The tech group and the financial giant – which are both listed on Western exchanges – are committed to acquire 75.6% of the service, according to corporate statements cited …

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Russian startup to receive up to $10 million to bring data science to farmers

November 11, 2020

Russian agritech startup IntTerra has agreed with local businessman Nikita Shashkin an investment plan of “up to $10 million” in several capital injections. The deal, agreed in early 2020, has just been revealed by the business daily Vedomosti, which cites exchanges with company founders Vitaly Buzu and Alexander Mikhailov.  Very few Russian agritech startups have …

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Amid market boom, food delivery startup Elementaree raises $5 million from top Russian and French investors

November 12, 2020

The Russian food delivery startup Elementaree.ru has secured $5 million from the French vegetable giant Bonduelle and Russia’s sovereign wealth fund RDIF, confirming earlier announcements. An undisclosed individual investor also took part in the deal, the Russian media reported. The details of the transaction were not disclosed. Founded in 2013 by Olga Zinovieva and Silard …

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Russian e-commerce major Ozon secures $150 million from local and US investors

April 5, 2020

Russian e-commerce major Ozon has just announced a $150 million round of financing, consolidating its position among the most well-funded local market players. The money is coming from three investors bringing equal contributions: the Moscow-based private equity firm Baring Vostok Capital Partners, the corporate fund Sistema_VC and a new investor, the US VC firm Princeville Capital.  The deal took the form of a …

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Rocketbank

Mobile banking service Rocketbank to shut down after eight years of eventful life

March 27, 2020

Russian payment major Qiwi will shut down the mobile banking service Rocketbank by the end of this year, having failed to find an acquirer for this asset.  Qiwi’s financial report reveals that Rocketbank’s net loss amounted to 684 million last year (slightly more than $10 million at last year’s exchange rate), up 17% from 2018. The …

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Russian video streaming platforms gain speed

March 23, 2020

As the Russian video streaming service segment is booming. The major players are securing funding and launching original content production. Last month, Russia’s largest video streaming platform, ivi.ru, said it is considering an IPO on Nasdaq by the end of this year with JP Morgan Chase underwriting the floatation, bne IntelliNews reported in February. Back in 2018, ivi.ru CEO …

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Dating.com Group launches $50 million corporate VC fund

March 23, 2020

International dating giant Dating.com Group has launched a $50 million corporate venture fund, the group’s co-founder Dmitry Volkov announced last week at an industry event in New York City.  The new vehicle will invest “up to $5 million” in online dating companies from the seed to Series B stages. The Dating.com fund has already made an …

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After Belarus and Ukraine, Russian gaming giant Playrix acquires studio in Armenia

March 5, 2020

Playrix, a global Russian-founded gaming giant, announced today the acquisition of Armenian game studio Plexonic. The terms of the deal have not been disclosed.  The Yerevan-based team, still led by Plexonic’s founder and CEO Gevorg Sargsyan, has already started developing a new casual mobile game, according to a corporate statement.  “Together with the talented Plexonic team, we will …

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Alexander Galitsky: From Soviet engineer to libertarian investor

February 21, 2020

Wearing casual trousers, a pullover and ruffled hair, surrounded by programmers, designers and freelancers half his age in the trendy WeWork coworking space in central Moscow, Alexander Galitsky wears his libertarian colors with comfort and conviction.  Over the last three decades, he has made his name and his fortune connecting people, money and services in …

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Da Vinci Capital gets €30 million from Germany’s DEG to invest in Ukraine, Belarus and Kazakhstan

February 21, 2020

Moscow-based private equity fund manager Da Vinci Capital has agreed with DEG, a state-owned German development finance institution, a €30 million contribution to its new fund, ‘Da Vinci Capital Technology Fund III.’ The agreement is still subject to standard closing conditions. Da Vinci expects to attract other LPs in the course of the year to reach the fund’s initial …

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Eastern European edtech startup backed by Russian and South Korean investors to go global

February 19, 2020

In late January the Russian-born edtech startup Novakid closed a $1.5 million funding round involving South Korean VC BonAngels and Russian VC firm Leta Capital. The money will be used to develop Novakid’s technology further and to support its international expansion plans.  Founded in 2017 by Max Azarov, Novakid touts itself as “a next-generation early English learning …

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